PPG Industries, Inc.

NYSE-PPG

Basic

Market Cap
$29.38B
EV
$35.5B
Shares Out
233.3M
Revenue
$18.1B
Employees
53,000

Margins

Gross
42.45%
EBITDA
15.79%
Operating
12.66%
Pre-Tax
10.94%
Net
7.98%
FCF
7.81%

Returns (5Yr Avg)

ROA
6.17%
ROTA
33.1%
ROE
20.29%
ROCE
12.39%
ROIC
9.69%

Valuation (TTM)

P/E
—
P/B
—
EV/Sales
—
EV/EBITDA
—
P/FCF
—
EV/Gross Profit
—

Valuation (NTM)

Price Target
$149.89
P/E
—
PEG
—
EV/Sales
—
EV/EBITDA
—
P/FCF
—

Financial Health

Cash
$1,201M
Net Debt
$5,936M
Debt/Equity
0.91
EBIT/Interest
9.63

Growth (CAGR)

Rev 3Yr
4.89%
Rev 5Yr
3.68%
Rev 10Yr
1.9%
Dil EPS 3Yr
-1.5%
Dil EPS 5Yr
3.69%
Dil EPS 10Yr
-2.04%
Rev Fwd 2Yr
1.52%
EBITDA Fwd 2Yr
4.1%
EPS Fwd 2Yr
9.51%
EPS LT Growth Est
8.33%

Dividends

Yield
—
Payout
42.42%
DPS
$2.6
DPS Growth 3Yr
6.38%
DPS Growth 5Yr
6.25%
DPS Growth 10Yr
7.6%
DPS Growth Fwd 2Yr
4.77%

Metric	Dec '14	Dec '15	Dec '16	Dec '17	Dec '18	Dec '19	Dec '20	Dec '21	Dec '22	Dec '23	LTM
Total Revenues						15,146	13,834	16,802	17,652	18,246	18,099
Total Revenues % Chg.						-1.5%	-8.7%	21.5%	5.1%	3.4%	1.1%
Cost of Goods Sold, Total						8,619	7,743	10,245	11,053	10,699	10,416
Gross Profit						6,527	6,091	6,557	6,599	7,547	7,683
Selling General & Admin Expenses, Total						3,621	3,414	3,806	3,875	4,307	4,386
R&D Expenses						432	379	439	448	433	439
Depreciation & Amortization						375	371	389	388	391	407
Amortization of Goodwill and Intangible Assets						136	138	172	166	167	160
Other Operating Expenses						141	—	—	—	—	—
Other Operating Expenses, Total						4,705	4,302	4,806	4,877	5,298	5,392
Operating Income						1,822	1,789	1,751	1,722	2,249	2,291
Interest Expense, Total						-132	-138	-121	-167	-247	-238
Interest And Investment Income						32	23	26	54	140	170
Net Interest Expenses						-100	-115	-95	-113	-107	-68
Income (Loss) On Equity Invest.						11	8	15	25	21	21
Currency Exchange Gains (Loss)						55	30	—	—	—	1
Other Non Operating Income (Expenses)						71	-79	47	21	-40	-71
EBT, Excl. Unusual Items						1,859	1,633	1,718	1,655	2,123	2,174
Restructuring Charges	—			—		-176	-174	3	-33	2	2
Merger & Related Restructuring Charges	—	—	—	—		-17	-9	—	—	—	—
Impairment of Goodwill	—	—	—	—	—	—	—	—	—	-158	-158
Gain (Loss) On Sale Of Investments	—	—		—	—	—	—	—	—	—	—
Gain (Loss) On Sale Of Assets						7	5	10	4	-23	-23
Asset Writedown	—	—	—	—	—	—	-93	-21	-245	-2	-2
Insurance Settlements	—	—	—	—	—	—	—	—	—	16	7
Legal Settlements					—	—	—	22	—	—	—
Other Unusual Items		—			—	-12	—	83	—	-210	-20
EBT, Incl. Unusual Items						1,661	1,362	1,815	1,381	1,748	1,980
Income Tax Expense						392	291	374	325	439	495
Earnings From Continuing Operations						1,269	1,071	1,441	1,056	1,309	1,485
Earnings Of Discontinued Operations						—	3	19	-2	—	—
Minority Interest						-26	-15	-21	-28	-39	-41
Net Income						1,243	1,059	1,439	1,026	1,270	1,444
Net Income to Common Incl Extra Items						1,243	1,059	1,439	1,026	1,270	1,444
Net Income to Common Excl. Extra Items						1,243	1,056	1,420	1,028	1,270	1,444
Total Shares Outstanding						235.7	236.7	235.9	235.1	235.2	233.3
Weighted Avg. Shares Outstanding						236.9	236.8	237.6	236.1	236	235.6
Weighted Avg. Shares Outstanding Dil						238.2	237.9	239.4	237.3	237.2	236.8
EPS						5.2	4.5	6.1	4.3	5.4	6.1
EPS Diluted						5.2	4.5	6	4.3	5.4	6.1
EBITDA						2,333	2,298	2,312	2,276	2,807	2,858
Effective Tax Rate						23.6%	21.4%	20.6%	23.5%	25.1%	25%